Slide 1: Fourth Quarter 2015 Earnings Teleconference
Fourth Quarter 2015 Earnings Teleconference February 2, 2016
Slide 2: Introduction
Introduction Chuck Triano Senior Vice President, Investor Relations Fourth Quarter 2015 Earnings
Slide 3: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking Statements and Non-GAAP Financial Information Our discussions during this conference call will include forward-looking statements about, among other things, our anticipated future operating and financial performance, business plans and prospects, in-line products and product candid
Slide 4: Disclosures Related to the Pending Allergan Transaction
Disclosures Related to the Pending Allergan Transaction NO OFFER OR SOLICITATION This communication is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of
Slide 5: Opening Remarks
Opening Remarks Ian Read Chairman and Chief Executive Officer Fourth Quarter 2015 Earnings
Slide 6: CEO Perspectives
CEO Perspectives Finished the year with strong financial and operational performance Met or exceeded full-year 2015 financial guidance for reported revenues(1) and adjusted diluted EPS(1) Achieved operational revenue growth in 2015 for the first time in over five years Gained market penetrat
Slide 7: Key Pipeline Events in 2016
Key Pipeline Events in 2016 Potential Phase 3 Data Readouts Bococizumab PCSK9 - Six LDL lowering studies, including the SPIRE-SI trial which we announced today has met its primary endpoint Ertugliflozin SGLT-2 - Multiple studies, including as a monotherapy, as a fixed-dose combination (FDC) wi
Slide 8: Financial Review
Financial Review Frank D’Amelio Executive Vice President & Chief Financial Officer Fourth Quarter 2015 Earnings
Slide 9: Income Statement Highlights
Income Statement Highlights ($ Millions, Except Per Share Amounts and Percentages) Fourth Quarter Full Year 2015 2014 Change 2015 2014 Change Reported Revenues(1) $14,047 $13,118 7% $48,851 $49,605 (2%) Adjusted Income(2) 3,306 3,441 (4%) 13,755 14,530 (5%) Adjusted Diluted EPS(2) 0.53 0.54 (2%) 2.2
Slide 10: Impact of Foreign Exchange on Revenues and Select Adjusted Income Components
Impact of Foreign Exchange on Revenues(1) and Select Adjusted Income(1) Components ($ Millions, Except Percentages) Favorable / (Unfavorable) Fourth Quarter 2015 2014 FX Impact Reported Revenues(1) $14,047 $13,118 ($934) (7%) Cost of Sales(1) 2,983 2,584 157 6% SI&A Expenses(1) 4,598 3,916 242 6% R&
Slide 11: Global Innovative Pharmaceutical (GIP) Selected Financial Highlights
Global Innovative Pharmaceutical (GIP) Selected Financial Highlights ($ Millions, Except Percentages) Fourth Quarter Q4 2015 revenues increased 10% operationally to $3,862M vs. Q4 2014 % Change 2015 2014 Primarily due to the strong operational performance Total Oper. of Eliquis globally, Lyrica
Slide 12: Global Vaccines, Oncology and Consumer Healthcare (VOC) Selected Financial Highlights
Global Vaccines, Oncology and Consumer Healthcare (VOC) Selected Financial Highlights ($ Millions, Except Percentages) Fourth Quarter Q4 2015 revenues increased 38% operationally to % Change $3,776M vs. Q4 2014 2015 2014 Primarily driven by continued strong uptake of Total Oper. Prevnar 13 among
Slide 13: Global Established Pharmaceutical (GEP) Selected Financial Highlights
Global Established Pharmaceutical (GEP) Selected Financial Highlights ($ Millions, Except Percentages) Fourth Quarter Q4 2015 revenues increased 5% operationally to $6,264M vs. Q4 2014 % Change 2015 2014 Driven by the inclusion of legacy Hospira Total Oper. operations, which contributed $1.2B, p
Slide 14: 2015 Financial Guidance vs. Actual Results
2015 Financial Guidance(1)(2) vs. Actual Results Guidance Results Reported Revenues(3) $47.5 to $48.5 billion $48.9 billion Adjusted Cost of Sales(3) as a % of Reported Revenues(3) 18.7% to 19.2% 18.5% Adjusted SI&A Expenses(3) $13.6 to $14.1 billion $14.3 billion Adjusted R&D Expenses(3) $7.5 to $7
Slide 15: 2016 Financial Guidance
2016 Financial Guidance(1)(2) Impact of Mid- January 2016 2016 Financial Full-Year 2016 Financial FX Rates Currency Guidance 2015 Results Guidance at 2015 Compared to Impact Related FX Rates to Venezuela (includes impact of 2015 FX Rates Venezuela) (Ex Venezuela) $51.3 to $53.3 $49.0 to $51.0 Report
Slide 16: 2016 Financial Guidance
2016 Financial Guidance(1) Reported Revenues(2) $49.0 to $51.0 billion Adjusted Cost of Sales(2) as a % of Reported Revenues(2) 21.0% to 22.0% Adjusted SI&A Expenses(2) $13.2 to $14.2 billion Adjusted R&D Expenses(2) $7.3 to $7.8 billion Adjusted Other (Income) / Deductions(2) Approximately ($300 mi
Slide 17: Key Takeaways
Key Takeaways Pfizer reported revenues(1) grew 14% operationally in Q4 2015, 6% operationally in FY 2015, primarily driven by: Strength of Prevnar 13 in adults, Ibrance and Eliquis, all of which are early in their life cycles, as well as the addition of legacy Hospira operations Provided 2016 fina
Slide 18: Fourth Quarter 2015 Earnings Teleconference Q&A Session
Fourth Quarter 2015 Earnings Teleconference Q&A Session February 2, 2016